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Here are 3 types of WW indicators that I have used:
A) Wolf
1) The first is the “Wolf” indicator. This indicator setting(12,8,3) detects WW’s well. I has a problem with conforming to the rule that Wave 4 must revisit the wave 1 – wave 2 range. It sometimes creates a wave 4 that is outside of the 1-2 wave range.
2) Also sometimes wave 5 appears to be the EPA.
3) The color of the numbers also determine a bullish(red) or bearish(yellow) WW. Sometime the colors get mixed up.
4) It would also be great if the upper-left hand corner info was fixed.
B) WolfWave_Nen
1) The second is the same indicator patched by Nen and again by Maumax (Setting 12,8,3) . I like this indicator because it draws a preliminary line from 1 wave-3 wave (bullish or bearish) which alerts you to the formation of a WW.
2) The problem is the same as Wolf it breaks the wave 4 rule.
3) also sometimes wave 5 falls shorts of achieving the “sweet spot” that is when wave 5 overshoots the 1-3 line for the position entry point to EPA, which is not a WW
C)0_WolfWave_04m
1)I like this indicator the best because it draws the full WW lines(Setting:12)It draws 1-3 and 2-4 creating the ETA, 1-4 and the 3-5 overshoot “sweet spot” entry point.
2) also this one a attempt to predict the move to wave 5 from wave 4( it basically prints an incomplete WW).
3)It has an option to print more than one or the last WW on a chart. It also prints the fibo retracements like in harmonic trading
4)The problem with this one is the same as the 2nd indicator(B3)
5) I cannot open it in metaeditor.
I have included a pic of what a well built WW indicator should include.
unexperienced traders enter the markets focused on how much money they stand to make
Professional traders do the exact opposite, they focus on how much money they stand to lose
Linear Mode
